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Public investment cannot be assumed to be automatically financeable by debt merely because it has high social returns.
Drawn from what Olivier Blanchard said
Subjectpublic debt
What Olivier Blanchard actually said
- Olivier Blanchard Economist; former chief economist of the International Monetary Fund
Thus, as desirable as public investment is, the proposition that it can be automatically financed by debt is wrong.
Where this was said
↗Fiscal Policy under Low Interest Ratesdirect.mit.edu
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